Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2021

The following tables present the activity in other comprehensive income (loss):


(Dollars in thousands)
Year ended December 31, 2021	Pre-tax Amounts	Income Taxes	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	($21,942)	($5,266)	($16,676)
Net (gains) losses on securities reclassified into earnings	—	—	—
Net change in fair value of available for sale debt securities	(21,942)	(5,266)	(16,676)

Cash Flow Hedges:
Changes in fair value of cash flow hedges	(3,067)	(736)	(2,331)
Net gains on cash flow hedges reclassified into earnings (1)	(310)	(75)	(235)
Net change in the fair value of cash flow hedges	(3,377)	(811)	(2,566)
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	5,908	1,417	4,491
Amortization of net actuarial losses (2)	2,844	683	2,161

Net change in defined benefit plan obligations	8,752	2,100	6,652
Total other comprehensive loss	($16,567)	($3,977)	($12,590)

(1)The pre-tax amounts are included in interest expense on FHLB advances, interest expense on junior subordinated debentures and interest and fees on loans in the Consolidated Statements of Income.

(2)The pre-tax amounts are included in other expenses in the Consolidated Statements of Income.


(Dollars in thousands)
Year ended December 31, 2020	Pre-tax Amounts	Income Taxes	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	$8,784	$2,129	$6,655
Net (gains) losses on securities reclassified into earnings	—	—	—
Net change in fair value of available for sale debt securities	8,784	2,129	6,655

Cash Flow Hedges:
Changes in fair value of cash flow hedges	(2,003)	(482)	(1,521)
Net losses on cash flow hedges reclassified into earnings (1)	1,136	269	867
Net change in the fair value of cash flow hedges	(867)	(213)	(654)
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	(5,093)	(1,197)	(3,896)
Amortization of net actuarial losses (2)	2,141	400	1,741

Net change in defined benefit plan obligations	(2,952)	(797)	(2,155)
Total other comprehensive income	$4,965	$1,119	$3,846

(1)The pre-tax amounts are included in interest expense on FHLB advances, interest expense on junior subordinated debentures and interest and fees on loans in the Consolidated Statements of Income.

(2)The pre-tax amounts are included in other expenses in the Consolidated Statements of Income.


(Dollars in thousands)
Year ended December 31, 2019	Pre-tax Amounts	Income Taxes	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	$26,074	$6,127	$19,947
Net losses on securities reclassified into earnings (1)	53	12	41
Net change in fair value of available for sale debt securities	26,127	6,139	19,988

Cash Flow Hedges:
Changes in fair value of cash flow hedges	(1,444)	(339)	(1,105)
Net losses on cash flow hedges reclassified into earnings (2)	159	38	121
Net change in the fair value of cash flow hedges	(1,285)	(301)	(984)
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	(3,710)	(872)	(2,838)
Amortization of net actuarial losses (3)	1,200	282	918
Amortization of net prior service credits (3)	(16)	(4)	(12)
Net change in defined benefit plan obligations	(2,526)	(594)	(1,932)
Total other comprehensive income	$22,316	$5,244	$17,072

(1)The pre-tax amount is reported as net realized losses on securities in the Consolidated Statements of Income.

(2)The pre-tax amounts are included in interest expense on FHLB advances, interest expense on junior subordinated debentures and interest and fees on loans in the Consolidated Statements of Income.

(3)The pre-tax amounts are included in other expenses in the Consolidated Statements of Income.

The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax:


(Dollars in thousands)	Net Unrealized Gains (Losses) on Available For Sale Debt Securities	Net Unrealized (Losses) Gains on Cash Flow Hedges	Net Unrealized (Losses) Gains on Defined Benefit Plan Obligations	Total
Balance at December 31, 2020	$9,881	($1,447)	($15,825)	($7,391)
Other comprehensive (loss) income before reclassifications	(16,676)	(2,331)	4,491	(14,516)
Amounts reclassified from accumulated other comprehensive income	—	(235)	2,161	1,926
Net other comprehensive (loss) income	(16,676)	(2,566)	6,652	(12,590)

Balance at December 31, 2021	($6,795)	($4,013)	($9,173)	($19,981)


(Dollars in thousands)	Net Unrealized Gains on Available For Sale Debt Securities	Net Unrealized (Losses) Gains on Cash Flow Hedges	Net Unrealized (Losses) Gains on Defined Benefit Plan Obligations	Total
Balance at December 31, 2019	$3,226	($793)	($13,670)	($11,237)
Other comprehensive income (loss) before reclassifications	6,655	(1,521)	(3,896)	1,238
Amounts reclassified from accumulated other comprehensive income	—	867	1,741	2,608
Net other comprehensive income (loss)	6,655	(654)	(2,155)	3,846

Balance at December 31, 2020	$9,881	($1,447)	($15,825)	($7,391)


(Dollars in thousands)	Net Unrealized (Losses) Gains on Available For Sale Debt Securities	Net Unrealized Gains (Losses) on Cash Flow Hedges	Net Unrealized (Losses) Gains on Defined Benefit Plan Obligations	Total
Balance at December 31, 2018	($16,762)	$191	($11,738)	($28,309)
Other comprehensive income (loss) before reclassifications	19,947	(1,105)	(2,838)	16,004
Amounts reclassified from accumulated other comprehensive income	41	121	906	1,068
Net other comprehensive income (loss)	19,988	(984)	(1,932)	17,072

Balance at December 31, 2019	$3,226	($793)	($13,670)	($11,237)